The morning news. [volume] (Savannah, Ga.) 1887-1900, 1887-08-27
BUSINESS SEEMS BETTER.
DUN 81 co. REPORT AN UPWARD
TENDENCY IN PRICES.

A Feeling of Uncertainty Still Hover
ing About Trade Centres-The Vol
ume of Legitimate Business Large,
but not Equally Distributed-The
Iron Market Sluggish.
New YORK, Aug. 26.-The following is
r. G. Dun & Co S review of trade for the
week: "The tendency of prices during the
past week has been upward for most pro-
ducts, and the state of business is rather
better, but there is still much hesitation
and irregularity. The money market, for
speculative uses is made easier by gold i'm
ports and Treasury purchases of bonds, but
much mercantile paper is dis
counted with difficulty, and some
considerable failures cause uneasiness.
The failure to reach a settlement of the
Rosenfield's case at Chicago, troubles of
creditors, delay in the settlement of the
wheat deal at San Francisco, and the fall of
wheat Sc per Genital in day make some
disturbance The Ives ENHANCEMENT, the
failure of stock firm for 81, 100000, and
the recelvership for Mitchell, Vance & Co,
do not increase confidence. The volume of
legitimate business is large, but not equally
distributed, and in important branches there
is shrinkage.
THE WHEAT MOVEMENT.
"Wheat has been going abroad largely
s, 1872, $40 bushels in three weeks, against
Z 7,32l, l07 for same time last year, but many
on purchases of one or two months ago. and
the export demand has been SO checked by
improved foreign crop reports that even
only 1s4d. for freight to Liverpool fails to
produce activity. Prices are about where
they were a week ago. The yield in the
spring wheat States appears to be excellent.
1.-The rains came too late to save a consd-
cradle part of the damaged corn, but have
nevertheless done great good.
Cotton is strengthened by extrayagant
reports of injury to the crop.
''Oil has risen 2H cents, and pork products
a shade, though the market is dull
Sugar has been advanced, the foreign
corner in beet sugar being the cause.
Beef is dearer, with no change in hogs.
"The wool trade is hesitating. At Chicago
wool is called the 'deadest thing above
ground and at Boston, Ohio wool is Of
fered by Philadelphia dealers at 3219.
MANUFACTURERS NOT BUYING.
"The boom in June on reports of a short
yield caused sales throughout the growing
regions at advanced prices, but manufactu-
rers report no profits, and are chary in their
purchases, and prices are now TO 3 cents
below the June level
''In the woolen goods trade there is no i'm
provement, while cotton goods are largely
distributed at firm prices.
"The leather market is quiet, but rather
firmer, and boot and shoe manufactures
report better orders, with a less decrease,
than was expected from the drought-dam-
aged regions.
Imported silks are offered at prices un-
precedentedly low.
''The competition of Southern pig iron is
felt and stocks are accommodating rapidly,
while large imports continue. Manufac-
tured iron also appears to accumulate, and
Western competition is felt by Eastern
mills Another small sale of foreign rails
is reported, and some makers are taking S36
for winter delivery.
SALES BELOW EXPECTATIONS.
"The Iron Age reports that the sales of
railway iron do not meet expectations, be-
cause funds are Forthcoming only slowly
for floating bonds, and new orders for axes
are very scarce, while on some contracts al
ready made delay in delivery is asked. The
uncertainty in Wall street, and behind that
the enormous diversion of available capital
to other uses, affect the iron interest quickly
Stocks have been weak with spells of
rather rapid depression, and some realizing
by discouraged investors. On the other hand,
signs OF foreign buying still are not want
that can be given of the gold imports. For
eign investments in real estates, manufac-
lures and mines have been large. But for
these, the excesses of merchandise imports
over exports S51, 1927, 1873 in the four months
ending with July, would probably take
gold out of the country
GOTHAM'S IMPORTS.
"In the three weeks of August the New
York imports have increased IS per cent
| with only half of percent increase in the
exports.
''The Treasury bought s3, 13s, 900 in bonds
on Wednesday, but in spite of all the pur-
chases it now holds S7,300,000 more gold
than on August /, 100000 more sill
yer, and 100000 more legal ten
ders The imports and revenue are
so large that even heavy pension payments
will scarcely clear off the surplus for the
month.
"The business failures occurring through
out the country during last week number
for the United States 153, and for Canada
32, total of lS5, against 16l last week and
$50 the week previous"